Coty cannot have enough of the Kardashian-Jenner clan.
The New York cosmetics giant is in talks with Kim Kardashian West to collaborate on “certain beauty products,” the company revealed in a stock presentation Tuesday.
Coty already has a 51 percent stake in Kardashian’s younger sister, Kylie Jenner’s beauty company Kylie Cosmetics, for which she disbursed $ 600 million last year.
The Kylie Jenner collaboration was under scrutiny last week after Forbes magazine alleged that Jenner had been Overvaluing the value of your cosmetic brand and that she was not a billionaire as she said.
Coty’s new chief executive said Monday that the allegations struck him as a “mystery.”
The company’s shares rose nearly 7 percent on Wednesday after the possibility of another collaboration with the family, adding to the 20 percent rise in Coty shares seen earlier this week, when he named the president. Peter Harf as its new CEO.
However, Coty said there was no guarantee that an agreement or collaboration would be reached and did not provide further details.
“The Company does not intend to comment further on such a potential transaction,” it said in the filing.
West, known for narrating her life with her sisters on television’s “Keeping Up with the Kardashians,” launched her own makeup line in 2017, two years after Jenner’s successful foray into the beauty industry.
The talks come immediately after a change of address this week and a KKR investment in its hair and nail products divisions.